Foundation For The Flint Cultural Center
- Assets
- $48.1m
- Revenue
- $5.1m
- Investments
- $12.0m
- Employees
- 0
- Location
- Flint, MI
- Founding
- 05/2001
- Data as of
- 12/2023
- EIN
- 38-3573890
Organization Overview
Foundation For The Flint Cultural Center is located in Flint, MI. The organization was established in 2001. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Flint Cultural Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Foundation For The Flint Cultural Center generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 32.3% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 0.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Foundation For The Flint Cultural Center has awarded 27 individual grants totaling $8,069,834. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE AND ADMINISTER FUNDS AND TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF THE PUBLICLY SUPPORTED ORGANIZATIONS REPORTED IN SCHEDULE A.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO SUPPORTED ORGANIZATIONS AND DISTRIBUTIONS FOR PROGRAM-RELATED EXPENSES. THE AMOUNT TO BE SPENT FROM THE ENDOWED FUNDS HAS BEEN STIPULATED BY THE DONOR'S GRANT AGREEMENT, WHICH FOR 2023 WAS 5.0% OF THE AVERAGE FAIR MARKET VALUE OF THE FUNDS OVER THE PREVIOUS TWENTY TRAILING QUARTERS ENDING SEPTEMBER 30TH OF THE IMMEDIATE PRIOR YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherri Stephens Chair | OfficerTrustee | 1 | $0 |
F James Cummins Vice Chair | OfficerTrustee | 1 | $0 |
Raymond Kelly III Secretary | OfficerTrustee | 1 | $0 |
Lennetta Coney Director | Trustee | 1 | $0 |
Tom Lillie Director | Trustee | 1 | $0 |
Michael Melenbrink Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,000,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,000,000 |
| Total Program Service Revenue | $0 |
| Investment income | $892,374 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $222,907 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,115,281 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $960,844 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $55,849 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,547 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $47,561 |
| Fees for services: Other | $20 |
| Advertising and promotion | $0 |
| Office expenses | $44,715 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,692 |
| All other expenses | $0 |
| Total functional expenses | $1,122,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,692 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $36,088,781 |
| Investments—other securities | $11,977,856 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $48,068,329 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $48,068,329 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $48,068,329 |
Grants Awarded
Over the last fiscal year, Foundation For The Flint Cultural Center has awarded $960,844 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FLINT CULTURAL CENTER CORPORATION PURPOSE: PROGRAM/OPERATIONAL SUPPORT | $319,360 |
FLINT INSTITUTE OF ARTS PURPOSE: PROGRAM/OPERATIONAL SUPPORT | $206,715 |
FLINT INSTITUTE OF MUSIC PURPOSE: PROGRAM/OPERATIONAL SUPPORT | $434,769 |